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Abstract

The present invention provides software that includes various computer tools for the different individuals (crude and product traders, planners/analysts, brokers, schedulers, vessel owners/brokers, terminal operators, pipeline operators and cash brokers, etc.) involved in crude oil trading. In the preferred embodiment, the invention system is an on-line, real-time user interactive software system. The invention system includes three pieces of functionality: decision support tools: a broad set of powerful tools for accurate, on-the-fly deal evaluation and decision making including crude oil evaluation, product component blending and trading, arbitrage identification, transportation and vessel selection optimization. collaborative workflow environment: delivered via role-based consoles, this increases staff productivity by capturing the relationships between people, organizations, deal and deadlines to coordinate and synchronize the workflow within and between companies. deal negotiation system: a secure and private environment for bid/offer transaction for physical petroleum commodity trading, seamlessly integrated with collaborative workflow and decision support tools. One set of the computer tools assists the trader in evaluating deals. Another set of the computer tools assists the trader to collaborate with the rest of the commercial team and the external service providers. Yet another set of computer tools assists the trader to negotiate deals in a secure and private environment, enabling the trader to invite multiple participants to engage in bid/offer scenarios. Additionally, arbitrage analysis and domain-specific search engines are disclosed that support crude oil trading, refining and logistics.

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First Claim